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Looks like Paul's willingness to be a Romney ally and constant flag bearer for free markets is giving him a huge edge over those who chose to criticize Mitt on the topic.

Yes, but the fact remains that he is a distant second in fundraising and Romney has even more small donations from ordinary people than RP. What I am mainly suggesting is that if you compare the personal lives of the candidates, Romney is arguably just as noble and upstanding as Paul...

I like Ron Paul, but....Personally I think all the money arguments regarding politicians are bogus. Fact will always be that it takes a ton of money to win the presidential election. This was confirmed by Ron Paul's own words yesterday about whether he would run 3rd party "like Ross Perot"...

Or once you reach 59 1/2 years of age. Then you can roll.

One must distinguish between regulating the manufacturing or porn and regulating the distribution of porn. The two are completely separate. If all parties involved in making it are both physically and mentally capable of willing participation during production (which obviously does not...

Unnecessary? I would have to disagree. The problem as pointed out in the court case is that it could be completely unsolicited. Especially in the days of the internet where it is possible to completely disguise the contents of a link. Currently, if a single state chooses to allow any content...

I think that fact that it falls almost completely under interstate commerce means that federal obscenity laws should apply and trump state laws. Also, I think in order to make an informed decision it must be clear what the current laws dictate.

It's all about what options the prospective clients will likely have. The fact that they are looking for a manager suggests that they aren't interested in actively trading for themselves. From his previous comments I'm assuming he deals with ETFs and futures that likely have a very high...

A benchmark or hurdle rate really has nothing to do with beta. What it suggests is that any idiot can invest blindly in SPY and get normal market returns. It is the skilled manager who can exceed this, and he should be paid for this skill. Beta is really irrelevant IMO. Obviously we are only...

+1 My clients don't care nearly as much as I do about short term performance, but I know that my numbers must look good to keep growing, and the constant scrutiny is tiresome.

This is just my opinion. So take it with a grain of salt. If it is at all possible to execute your same strategy in futures only, then that is what I would do. The tax advantages are large, and running the business is much easier. If you can form a CTA and run managed accounts, then...

Sounds like you're finally starting to see the light. If you get good returns, many times it isn't worth it to try to manage OPM. The only reason that I do is for the ability to make more than $1MM annual in fees. If it was less than that, then i would just trade my own capital. IMO, it...

Ah yes... I didn't notice that. I tend to think about everything in managed accounts in terms of futures only, because that is the world I live in. I've passed the series 65 and series 3. I find managed futures to be much easier to run a profitable business, and includes many benefits...

Yes, but as soon as you no longer qualify for the exemption, you can only charge performance fees to accredited investors. Yes. They only pay tax on net gains. [b] You can certainly do that, but I wouldn't if you want a good long-term relationship with these people. Regardless of...

Yeah, that was a big reason for me choosing the CTA route instead of CPO. The CTA managed account structure is much easier to form and operate with minimal expense. Pooled funds are more heavily regulated and difficult to run/grow without hiring out the fund administration aspects. Audits...

Right now I just do managed accounts. Launching a CPO would've been more difficult and expensive. I have a couple prospective APs who would like to raise capital for me. I told them that I would probably prefer the CPO structure in that case though. I can send you my docs, but I've been...

It is a CTA. Managed futures accounts.

I'll throw in my 2 cents here because I truly respect Heech and his experience, but I followed the other route. I worked hard and developed a couple strats over more than a decade, always trading with personal funds. During that time, people close to me began to seek investment advice...

I thought that everyone made it pretty clear that a prop firm would still require you to have your own money on deposit. The difference is that they will allow you to leverage that capital more heavily. What was being suggested was a 10X leverage. You deposit $10K and they let you trade at...

Yes, my prediction is that it will first be Sweden and Luxembourg. Sweden already tried it and won't do it again unless all other European countries are on board at least. And Luxembourg has a disproportionately large financial economy and would suffer more than the others. Once they see...